Finance

Best Buy, Amazon Partner For New Smart TVs

Best Buy, Amazon Partner For New Smart TVs”

At first, Best Buy will begin carrying ten different Fire TV Edition models from Insignia and Toshiba, with these sets slated to appear in Best Buy's stores later on this summer.

Best Buy said it will sell more than 10 high-definition and 4K Amazon televisions in stores and online this summer from consumer electronics giant Toshiba and Insignia, the house brand for Best Buy.

Amazon CEO Jeff Bezos and Best Buy CEO Hubert Joly revealed the partnership on Tuesday at a Best Buy store in Bellevue, Wash. "These Fire Edition smart TVs by Insignia and Toshiba deliver handsome visuals and all the movies and TV shows you love, with an experience that gets better every day with Alexa". Other streaming services, such as Netflix, HBO, PlayStation Vue, Hulu, as well as Amazon Prime, will be included.

Of course, if you want to take things a step further and go entirely hands-free, you can also connect these TVs to any Echo device and use voice commands that way. Amazon Fire TV Edition sets are growing in popularity, which is something that Best Buy would want to capitalize on.

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Though Amazon already offers a range of Amazon Fire TV sticks and boxes that can be plugged into any TV, integrating into the Fire TV OS into the very fabric of a television opens many more opportunities for Amazon.

The newly designed TVs will come with a built-in Fire TV interface. The retailer now has exclusive access to Fire TV Edition TVs, both at its stores and as a newly-minted Amazon third-party reseller.

Roku shares recently were down 9.4 percent at $32.62 Wednesday, while shares in Amazon and Best Buy were up 1.7 percent and 3.8 percent, respectively.

Amazon has begun to make its physical presence known, buying the Whole Foods grocery chain a year ago and opening more than a dozen bookstores. "In fact, Amazon was more expensive on 13% to 14% of those similar items". The products will be available in the U.S. and Canada starting this summer. And while the purchases coming from an Amazon Fire TV Edition might not warrant concern from a company like Best Buy, there's still the future potential of the platform to worry about.



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